Energy Breakthrough: Over A Billion Barrel Of Oil And Gas Discovered In This Place

Last Updated:January 19, 2026, 17:57 IST

USGS found major new oil and gas reserves in Texas' Permian Basin, with Woodford and Barnett shales holding enough for 10 months of US gas and 10 weeks of oil at current usage.

The USGS said Wednesday it found 28.3 trillion cubic feet of gas and 1.6 billion barrels of oil in the Woodford and Barnett areas of the larger Permian Basin, which straddles West Texas and New Mexico. (USGS)

The US Geological Survey (USGS) has identified significant new oil and gas reserves in Texas’ Permian Basin, estimating that the newly assessed resources are sufficient to supply America with natural gas for about 10 months and oil for around 10 weeks at current consumption levels.

In a report released last week, the USGS said it found an estimated 28.3 trillion cubic feet of technically recoverable natural gas and 1.6 billion barrels of oil in the Woodford and Barnett shale formations, which are part of the larger Permian Basin spanning West Texas and southeastern New Mexico.

As per the agency, the Woodford and Barnett shales have so far produced only about 26 million barrels of oil since the late 1990s — roughly equivalent to one day of US oil consumption- largely because the deposits lie much deeper than formations traditionally targeted by drillers.

The USGS began assessing US petroleum resources five decades ago following the Arab oil embargo, which triggered a national supply crisis. Since then, advances in drilling technologies, particularly hydraulic fracturing, have significantly boosted domestic oil and gas production, turning Washington into a major energy producer.

“The potential in the area is massive, but producing these reserves presents new challenges," Toti Larson, principal investigator at the University of Texas Bureau of Economic Geology, said. He noted that the greater depth, higher temperatures and increased gas content raise costs, while higher clay content in parts of the Barnett shale adds drilling risks.

Larson said that oil prices also play a role in determining whether companies will invest in developing the reserves. “Neither of them are small," he said, adding that successful development could significantly boost oil and gas output from the Permian Basin.

USGS Director Ned Mamula said the findings highlight the importance of continued exploration. “The US economy and our way of life depend on energy, and USGS oil and gas assessments point to resources that industry hasn’t discovered yet," he said.

News world Energy Breakthrough: Over A Billion Barrel Of Oil And Gas Discovered In This Place

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